Caster Deck Market Size, Share, Growth, and Industry Analysis, By Type (Steel Plank Deck and Fiberglass Panel Deck), By Application (Shipping and Land Transport), Regional Forecast To 2031

Updated On: 20 November 2023

CASTER DECK MARKET REPORT OVERVIEW 

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The The global caster deck market size expanded rapidly in 2022 and the market is projected to grow substantially by 2031, exhibiting a prodigious CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the caster deck market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The Castor Decks modules allow for safe and ergonomic handling of air containers (ULD) moving between operations (inbound, sorting, and outbound). Caster decks are often used in conjunction with longboard trucks and wheels, which are specifically designed for stability and smooth rolling over longer distances. Also, it is a type of skateboard deck that is designed for long-distance pushing and commuting. These decks are typically longer and wider than standard skateboard decks, providing a more stable and comfortable ride over longer distances. They often have a symmetrical shape and feature a mild concave and a slight camber, which gives them a slight flex that helps absorb shock and vibrations.

The caster deck market is anticipated to grow at a remarkable CAGR during the forecast period. The caster deck market has seen significant growth in the past few years due to the increasing demand for better maneuverability and stability. Additionally, caster decks are becoming increasingly popular due to their ability to provide a smoother ride, even over rough terrain which is attributed to the growth of the market. The market is split by type, by application, and by region. Transport is expected to be the largest segment of the market which will contribute to the development of the industry.

COVID-19 Impact: Pandemic Declines the Demand for ULDs in Air & shipping Industry

The COVID-19 pandemic has had an adverse effect on the aviation and shipping industry, with many airlines, factory ships & merchant vessels experiencing a sharp decline in demand for travel. This decline in demand has resulted in a decrease in the number of flights and cargo transported, which has affected the demand for caster decks during the world health crisis.

Latest Trends

"Growing Use of Caster Decks in Sports Equipment Support to Expand Market Segments"

In the last few years, the caster deck market is evolving swiftly, and several trends are presently determining the market. Caster decks are becoming increasingly popular due to the increasing popularity of urban sports due to their functional advantages for instance skateboarding. Moreover, technological advancements such as wheel sensors, as well as, the fastest growing ship and air traveling industry all over the world, are driving up demand for caster decks.

CASTER DECK MARKET SEGMENTATION 

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• By Type Analysis

According to type, the market can be bifurcated into Steel Plank Deck and Fiberglass Panel. Deck

• By Application Analysis

Based on application, the market can be divided into Shipping and Land Transport.

Driving Factors

"Rapidly Growing Air & Ship Travel Industry Escalate the Market Growth "

The caster deck ULD (Unit Load Device) market refers to the market for caster decks generally used in the transportation of cargo and luggage. The demand for caster deck ULDs is largely dependent on the growth and health of the air travel industry. As air and travel continue to grow, the demand for ULDs for cargo and luggage transport also increases which will contribute to the caster deck market growth in the coming years.

"Growing E-Commerce and Online Shopping Industry Surge the Market Growth"

One of the major driving factors of the market is an expansion of cargo transport. The rising e-commerce and online shopping industry which requires efficient and fast cargo transport, boosting the demand for caster decks. As caster decks ULDs provide a secure and convenient way to transport cargo. Resulted, it fuels the demand for the caster deck in the ship and transport industry.

Restraining Factors

"High Initial Cost of the Caster Deck Could Impact the Growth of the Market"

The growth of the caster deck market is driven by several factors. However, the high initial cost of the caster deck can limit the market development. As caster deck is typically more expensive than traditional pallets, which can be a significant bottleneck for companies to adopt this technology. Apart from this, a lack of standardization can also restrict their use and adoption. As a result, the evolution of the market could be confined.

CASTER DECK MARKET REGIONAL INSIGHTS 

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"North America Dominates the Market due to Strong Manufacturing and Export Industries"

As per previous years’ statistics, North America has been the dominating region in the caster deck market. The air cargo industry is a global business, with goods being transported between countries and continents. Also, the leading county in the air cargo industry is the U.S. and Canada. These two countries have significant air cargo traffic and are home to major airlines, cargo carriers, and air cargo hubs. In addition, countries with strong manufacturing and export industries, such as European countries may have a higher demand for caster deck ULDs than other countries.

Key Industry Players

"Key Players focus on Collaboration with Shipping Companies to Inflate Market Size "

With regard to the key players, the caster deck market is a niche industry. The number of successful companies is ruling this rising industry by gaining the largest profit revenue with effective strategies, acquisitions, mergers, and collaboration with airlines and shipping companies. Along with this, notable manufacturers are concentrating on strategies to tie up with land transport agencies to increase their production rate and supply in the market.  Some of the leading manufacturers such as BDP Solutions, KieTek, Fast Global Solutions, Santa Rosa Systems, Saco Airport Equipment, Viking Trailers International, ALS Logistic Solutions, McGrath Industries, Pinon France, SPS International, and other companies stimulate the market growth. As well as, the top five companies hold the majority of the caster deck market shares. This will attribute to the development of the market globally.

List of Market Players Profiled

• BDP Solutions
• KieTek
• Fast Global Solutions
• Santa Rosa Systems
• Saco Airport Equipment
• Viking Trailers International
• ALS Logistic Solutions
• McGrath Industries
• Pinon France
• SPS International
• RiteWay Conveyors

Report Coverage

This report describes the caster deck market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.